Cheesecake and the internet, together they are a powerful force. Specifically, Cake Envy has proven that for small businesses, word-of-mouth, whether in-person or via a Facebook message, can help a business. In this Pacific Business News article, Amy Brookes, owner of Cake Envy, talks about how Facebook is one of the largest generators of business.
In general, I feel that the internet has helped small businesses leverage the power of easy marketing tools. However, Amy is right to point out that old-fashioned networking is still helpful.
I think the real bottom line is that having a good product worthy to talk about whether via Facebook, Twitter, or in your face is what counts. When it comes to food, if it tastes bad no one is going to talk about it. If they do, they will say how bad it is, so at your next party bring a good cheesecake. You will be making friends, and friends for the business you bought the cheesecake from.